Primary Health Properties completes two developments

Primary Health Properties (PHP) on Tuesday reached practical completion on the development of two medical centres at Glynneath in South Wales and Langwith on the Derbyshire and Nottinghamshire border at a total cost of £6.4m.

The developments at Glynneath and Langwith were completed at a respective cost of £4.6m and £1.8m and are let on 20- year leases to the Abertawe Bro Morgannwg University Health Board and the Derbyshire Community Health Services NHS Foundation Trust, respectively.

Following the completion, the FTSE 250-traded company's portfolio now consists of a total of 484 assets with a gross value of £2.35bn, with a contracted rent roll of just under £126m.

Harry Hyman, managing director of PHP, said: "I am pleased to announce the completion of these two new medical centres which provide modern, purpose built facilities for the delivery of a range of primary healthcare needs for patients in Glynneath and Langwith and the immediate surrounding areas. We have a strong pipeline of opportunities in the UK and Ireland and are well positioned to continue to grow our portfolio and to support the healthcare systems in these markets through the provision of modern, primary care infrastructure."

Primary Health Properties' shares were down 0.20% at 130.93p at 0808 BST.